Bitcoin Breaks Records Amid Shift in Regulatory Climate

Bitcoin reached a new record high, nearing the $100,000 mark, driven by expectations of favorable regulations under Donald Trump's administration. This growth marks Bitcoin's mainstream emergence, bolstered by pro-crypto lawmakers and upcoming changes in SEC leadership. The cryptocurrency's value has doubled this year, thriving as a 'Trump trade.'

Bitcoin reached an unprecedented high on Friday, inching closer to the $100,000 mark. This surge is fueled by expectations of a more favorable regulatory environment under Donald Trump's presidency.

The cryptocurrency has more than doubled in value this year, spiking by about 45% since Trump's election victory on November 5. This uptrend is part of the broader 'Trump trades' phenomenon, with pro-crypto lawmakers poised to influence Congress.

As Bitcoin steps towards mainstream integration, the approval of U.S.-listed exchange-traded funds has significantly bolstered the market. Investors are also eyeing changes at the SEC, with current Chair Gary Gensler set to step down, potentially easing pressures on digital asset exchanges.

(With inputs from agencies.)